EXHIBIT 11
STATEMENT RE COMPUTATION
OF PER SHARE EARNINGS
<Table>
<Caption>
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
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2002 2001 AS RESTATED 2002 2001 AS RESTATED
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Numerator: $ 516,000 $ 941,000 $ 46,000 $ 449,000
Denominator:
Denominator for basic income per
common share -
weighted-average shares 5,799,845 5,799,845 5,799,845 5,408,082
Effect of dilutive securities:
Employee stock options -- -- -- --
----------------- ----------------- ----------------- -----------------
Denominator for diluted income
per common share -
weighted-average shares 5,799,845 5,799,845 5,799,845 5,408,082
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Basic income per common share $ 0.09 $ 0.16 $ 0.01 $ 0.08
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Diluted income per common share $ 0.09 $ 0.16 $ 0.01 $ 0.08
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</Table>